Supply Side Economics is bankrupting global capitalism, and Amazon is spearheading the advance...
"There is no means of avoiding the final collapse of a boom brought about by credit expansion"
- Ludwig Von Mises
- Ludwig Von Mises
The return on Ponzi capitalism in terms of higher incomes and wealth for the majority on this planet, is always just around the corner. And while that's not happening, the ranks of the ultra-wealthy keep getting smaller and wealthier. Go figure.
Data from: https://us.spindices.com/indices/equity/sp-500
No company epitomizes what is wrong with the U.S. economy more than Amazon. It's a company that has been cumulatively unprofitable for 25 years straight, pays nominal wages to the majority of its staff, adds zero value to the economy, all while decimating traditional retail. Amazon is always seeking to reduce its reliance on low paid workers, by hiring robots instead.
"Compare Amazon's median pay with Facebook Inc.'s $240,430"
It's the first U.S. company that has successfully bypassed the U.S. economy, and yet it now accounts for over one third of S&P 500 return year-to-date. In other words, a company valued solely by its revenue growth rate now provides a ludicrous proportion of casino returns by decimating the rest of the economy. That about sums it up. There is clearly a way to have internet sales without destroying the economy, but providing free capital to a monopolist, is not the way:
Many would call me a hypocrite if I said I never bought (or sold) anything on Amazon. In the same way I would be called a hypocrite if I said I care about this planet but I don't live in a mud hut and eat dirt. Nevertheless acknowledging that there is a a better way forward, is diametrically opposed to the cynical mindset that preoccupies a society always taking the easiest and cheapest path, without even the slightest regard for the future.
The reason why we need ever-cheaper junk - both in terms of price and quality - is because real wages are declining even faster than prices. It's an excellent argument for how to become a Third World country.
The reason why we need ever-cheaper junk - both in terms of price and quality - is because real wages are declining even faster than prices. It's an excellent argument for how to become a Third World country.
According to proponents of the easy way out, the future is always some far off place warned about by a handful of cassandras wandering in their lonely wilderness.
And then one day, it's not.
But unfortunately there's no one to warn when that day comes.
"Using Kensho, a quantitative tool used by hedge funds, CNBC found Amazon rose 1.9 percent on average during Prime Day week in the last three instances. The Amazon return approximately doubled the S&P 500’s performance in the same time periods."
